Macroeconomic inequality from reagan to trump: market power, wage repression, asset price inflation, and industrial decline

By:

Taylor, Lance

Material type: Text

TextPublication details: Cambridge University Press New Jersey 2020Description: xii, 132 pISBN:

9781108796101

Subject(s):

DDC classification:

339.20973 TAY

Summary: Book description For five decades, rising US income and wealth inequality has been driven by wage repression and production realignments benefitting the top one percent of households. In this inaugural book for Cambridge Studies in New Economic Thinking, Professor Lance Taylor takes an innovative approach to measuring inequality, providing the first and only full integration of distributional and macro level data for the US. While work by Thomas Piketty and colleagues pursues integration from the income side, Professor Taylor uses data of distributions by size of income and wealth combined with the cost and demand sides, flows of funds, and full balance sheet accounting of real capital and financial claims. This blends measures of inequality with national income and product accounts to show the relationship between productivity and wages at the industry sector level. Taylor assesses the scope and nature of various interventions to reduce income and wealth inequalities using his simulation model, disentangling wage growth and productivity while challenging mainstream models.

List(s) this item appears in: Public Policy & General Management

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Holdings
Item type	Current library	Collection	Call number	Copy number	Status	Date due	Barcode
Book	Indian Institute of Management LRC General Stacks	Public Policy & General Management	339.20973 TAY (Browse shelf(Opens below))	1	Available		002911

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Previous	339.0954 BAN The Indian economy: a macroeconomic perspective	339.1267 NAT Macroeconomics simplified: understanding Keynesian and neoclassical macroeconomic systems	339.2 LEW The opportunity index: a solution-based framework to dismantle the racial wealth gap	339.20973 TAY Macroeconomic inequality from reagan to trump: market power, wage repression, asset price inflation, and industrial decline	339.22 BLA Combating inequality:	339.22 TAN Inequality and optimal redistribution	339.220954 SHU How India earns, spends and saves: unmasking the real India	Next

Book description
For five decades, rising US income and wealth inequality has been driven by wage repression and production realignments benefitting the top one percent of households. In this inaugural book for Cambridge Studies in New Economic Thinking, Professor Lance Taylor takes an innovative approach to measuring inequality, providing the first and only full integration of distributional and macro level data for the US. While work by Thomas Piketty and colleagues pursues integration from the income side, Professor Taylor uses data of distributions by size of income and wealth combined with the cost and demand sides, flows of funds, and full balance sheet accounting of real capital and financial claims. This blends measures of inequality with national income and product accounts to show the relationship between productivity and wages at the industry sector level. Taylor assesses the scope and nature of various interventions to reduce income and wealth inequalities using his simulation model, disentangling wage growth and productivity while challenging mainstream models.

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